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- LUKKLLUKKL
  ·2023-09-20
  Good read !
  Sea Limited: Easy To Sea
  Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has
  Sea Limited: Easy To Sea
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- LUKKLLUKKL
  ·2023-02-12
  OK
  These 20 AI Stocks Are Expected By Analysts to Rise up to 85% Over the Next Year
  Artificial intelligence is the hottest area of the stock market right now. A screen of five ETFs poi
  These 20 AI Stocks Are Expected By Analysts to Rise up to 85% Over the Next Year
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- LUKKLLUKKL
  ·2022-09-05
  Ok
  Reminder: US Market Will be Closed for Labor Day on Monday, 5 September 2022 EDT
  Dear Valued Client,US Labor Day is around the corner. The U.S. market will be closed on Monday, 5 Se
  Reminder: US Market Will be Closed for Labor Day on Monday, 5 September 2022 EDT
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read !","listText":"Good read !","text":"Good read !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/221972060069976","repostId":"2368901380","repostType":2,"repost":{"id":"2368901380","pubTimestamp":1695197400,"share":"https://ttm.financial/m/news/2368901380?lang=&edition=fundamental","pubTime":"2023-09-20 16:10","market":"us","language":"en","title":"Sea Limited: Easy To Sea","url":"https://stock-news.laohu8.com/highlight/detail?id=2368901380","media":"Seeking Alpha","summary":"Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has","content":"<html><head></head><body><ul style=\"\"><li><p>Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.</p></li><li><p>Over roughly the last century of American capitalism, the market has demonstrated an especial penchant for doing so to commerce platforms.</p></li><li><p>It did so to Walmart in 1973-74. It did so to Lowe&#39;s in the 1980s. It did so to Amazon in the 2000s. It did so to <a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> in 2008-2009.</p></li><li><p>And, today, once again, the market has curiously traded down one of the best commerce platforms on earth in something akin to a fevered, depressive panic.</p></li><li><p>Today, I will quantitatively demonstrate for you the irrationality behind this price action, and, in short, I believe Sea could prove to be a 10-bagger in the decade ahead.</p></li></ul><h2 id=\"id_2336691259\">It&#39;s Easy: Concisely Articulating The Sea Thesis</h2><ol start=\"1\" style=\"\"><li><p><em>Shopee remains the #1 ecommerce platform in SE Asia. It is the only profitable one. Lazada is the #2, and this is a Rocket Internet Startup that existed before Shopee but has since been surpassed by Shopee by a very long shot. Shopee is indisputably the best ecommerce platform in the region, and, again, it&#39;s the only profitable platform.</em></p></li><li><p><em>In the U.S., Walmart, Amazon, Target, Lowe&#39;s, Home Depot, Dollar General, grocery stores, and department stores have all co-existed and created trillions in equity value over the last 75 years.</em></p></li><li><p><em>In Latin America, MercadoLibre has co-existed with a host of rivals, including Amazon quite formidably in Latin America, and it has still done very well profitably. Notably, MercadoLibre only has 35% market share of total ecommerce GMV in Latin America, while Sea has 50% in SE Asia; yet there&#39;s no fevered panic over MercadoLibre&#39;s market share.</em></p></li><li><p><em>Sea has $7.7B in cash &amp; equivalents; $3.3B in convertible debt. This is a massive amount of resources with which it can further dominate the aforementioned unprofitable and historically stagnant/inferior competition. Sea also generates robust free cash flow quarterly now alongside its giant liquidity position on its balance sheet.</em></p></li><li><p><em>Sea owns Garena, which is now returning to growth. This is like Sea&#39;s AWS (AMZN) in a sense, giving it an advantage over rivals. Garena could also experience sales growth in the future, especially in light of Free Fire being unbanned in India recently. Garena produces about $1B in annualized cash flows for the conglomerate.</em></p></li><li><p><em>Sea has a FinTech business (Sea Money) with about 60M users on the platform. This alone could be worth $20B to $30B, and Sea currently trades at ~$18B in enterprise value (preposterous in my opinion). This is a rapidly growing, free cash flow generative business that provides core financial infrastructure to SE Asia&#39;s digital economy alongside a couple other rivals, including GoPay (GOTO) and OVO (GRAB).</em></p></li><li><p><em>SE Asia has a very, very long runway for growth demographically. The region is still in the very early innings of economic growth and development.</em></p></li><li><p><em>Sea has demonstrated an ability to successfully and organically (meaning without acquiring) build new products and scale them rapidly. While it&#39;s built three incredibly successful franchises over the last decade or so, i.e., Garena (500M+ users and highly profitable), Shopee (#1 ecom platform in SE Asia and only profitable one), and Sea Money (~60M users and profitable), it&#39;s highly likely that it creates new and compelling products in the future as well, adding to the 20-30% annualized growth I believe the conglomerate will achieve in the decade ahead, once we emerge from the current rate hiking cycle and Asian economic woes broadly, both of which have served to, on some level, halt the growth of SE Asia&#39;s tech sector momentarily.</em></p></li><li><p><em>Lastly, SE Asia&#39;s demographics are very favorable for sustained, elevated growth for Sea in the decades ahead (depicted below).</em></p></li><li><p><em>I believe a 10 bagger over the next 10 years will be seen as base case for the business.</em></p></li></ol><h3 id=\"id_1939531541\">SE Asia Ecommerce Has Plateaued But Will Resume Growth In The Future</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>We will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.</p><h3 id=\"id_1441051994\">SE Asia Has A Long Runway For Growth And Development Still Ahead</h3><p>I understand that the data below is from 2017, but it&#39;s worth noting the total digital consumer TAM, as well as the projections for ecommerce growth, validation of which we can see in the ecommerce GMV chart shared just above.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd94f173610ebc3a5baba659a92725bd\" alt=\"Sea Ltd.&#39;s F-1\" title=\"Sea Ltd.&#39;s F-1\" tg-width=\"640\" tg-height=\"248\"/><span>Sea Ltd.&#39;s F-1</span></p><p>Over the last 5-7 years, Shopee&#39;s market share has grown within a rapidly growing ecommerce GMV TAM.</p><p>In a very worst case scenario, Shopee&#39;s market share may shrink, but, in light of the growth of SE Asia&#39;s ecommerce TAM, Shopee could very well continue to grow at elevated rates for decades to come.</p><h2 id=\"id_1212589788\">Understanding The Share Price Dynamics For Sea Ltd.</h2><p>I would say there&#39;s a number of approaches I could take to illustrate why Sea Ltd. (NYSE:SE) went from trading at $350/share to nearly $35/share as of today.</p><p>The same number of approaches could be taken in understanding why its retail predecessors, e.g., Walmart (WMT), Lowe&#39;s (LOW), or Amazon (AMZN), likewise experienced fairly stunning share price declines early in their lifecycles.</p><p>Today, I will share with you data that, in my estimation, definitively delineates why Sea and many of the former market darlings have experienced such breathtaking declines over the last 18 months or so.</p><p>Let&#39;s start with the underlying market mechanisms that are not idiosyncratic to Sea. These mechanisms that we will review have created the declines we&#39;ve seen from businesses like Tesla (TSLA), Affirm (AFRM), Meta (META) and Airbnb (ABNB) over the last 12 months.</p><p>I&#39;ve shared the following chart often, but it certainly bears re-sharing and repeating:</p><h4 id=\"id_2907407713\">The Prices Of Equities Overshoot To The Upside And Overshoot To The Downside</h4><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff6ac0b344710b22e1e69f1504babaa9\" alt=\"Truemind Capital\" title=\"Truemind Capital\" tg-width=\"640\" tg-height=\"380\"/><span>Truemind Capital</span></p><p>This chart is so ubiquitously shared and repeated on the internet for a reason:</p><p>It represents genuine reality of what you will experience in owning a given business/stock.</p><p>And we can see these precise dynamics playing out for Sea, as well as Adyen (OTCPK:ADYEY) and many, many other businesses in the market today.</p><h4 id=\"id_4285585971\">Roughly Depicting The True Intrinsic Value Of Sea Based On My Estimation Of The Growth Of Free Cash Flow Per Share</h4><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57cbad23aa9bcf1dee4a0075f181ef3f\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"1280\" tg-height=\"802\"/><span>YCharts</span></p><h3 id=\"id_2734695393\">Roughly Depicting The True Intrinsic Value Of Adyen Based On My Estimation Of The Growth Of Free Cash Flow Per Share</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad805058bef113f4d42f987c320000d3\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"1280\" tg-height=\"802\"/><span>YCharts</span></p><p>The charts align almost perfectly identically with the &#34;ubiquitously shared teaching chart,&#34; and this is no coincidence. This is perfectly how the market operates and prices equities.</p><p>&#34;As it was in the beginning, is now, and ever shall be, world without end. Amen.&#34;</p><p>The market&#39;s pricing of equities overshoots to the upside (too much exuberance) and overshoots to the downside (too much despair), and it has done this since the dawn of asset markets. The Great Warren Buffett has the market&#39;s behavior in this respect as the behavior of a &#34;drunken psycho,&#34; and we can certainly see and, for those that own Sea and Adyen, feel why.</p><h2 id=\"id_315136246\">Interest Rates &amp; Growth Rates</h2><p>To delve deeper into the underlying mechanisms driving the, as Mr. Buffett would call them, &#34;drunken, psychotic&#34; pricing dynamics of the market, we should consider how interest rates and individual company growth rates have impacted the valuations of Sea and Adyen.</p><p>When interest rates rise (i.e., the cost of credit in the economy rise), valuations decline, all else being equal (we will consider growth rates and their impact on valuations in a moment).</p><p>When interest rates decline (i.e., the cost of credit in the economy declines), valuations rise, all else being equal.</p><p>Below, we can see how a dramatic decline in interest rates created something akin to a &#34;zero gravity environment&#34; for the valuation of Sea (I will include Adyen as well to provide further context for this exercise).</p><h3 id=\"id_1263768699\">Sea&#39;s Valuation And The 10 Year Treasury Rate</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edff2244b3aafc5ec72705c59f7127d1\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>As interest rates have risen at the fastest rate in the history of America, the precise inverse has occurred:</p><p>Instead of a zero gravity environment for Sea, it has experienced 2x gravity for its valuation and correspondingly its stock price.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae087bc5ec40ea0953db0befae07bd7b\" alt=\"Visual Capitalist\" title=\"Visual Capitalist\" tg-width=\"640\" tg-height=\"829\"/><span>Visual Capitalist</span></p><p>If we couple this dynamic with the natural tendency of humans in crowds to panic and flee (sell), thereby creating market crashes, we can better understand why Sea&#39;s share price has been in free fall, despite reporting a fantastic Q2, in which it generated very healthy free cash flow and GAAP net income, grew sales, remained the #1 and only profitable ecommerce platform in SE Asia, grew its profitable FinTech business, and stabilized/grew its gaming business&#39; users.</p><p>We will explore Sea&#39;s quarter in following sections, but it certainly is worth noting in this valuation exercise that Sea reported an objectively fantastic Q2 2023 earnings. It could not have done better in my eyes.</p><p>Turning to Adyen, we can see precisely the same valuation dynamics, precipitated by higher interest rates, playing out.</p><h3 id=\"id_963054273\">Adyen&#39;s Valuation And The 10 Year Treasury Rate</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79f77b27ef9ec2fd118b7e5d7e52147a\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>In addition to the &#34;next best alternative&#34; math associated with higher rates and valuations, meaning that with a higher risk free rate, I require more yield on my equity investment, which suggests I need a lower valuation to buy, higher interest rates slow economic and individual business growth.</p><p>Because we&#39;ve experienced the fastest rate hiking cycle in American history and because SE Asia reopened recently, after being locked down for years, ecommerce growth in SE Asia has been tepid relative to the last few years.</p><h3 id=\"id_3676535121\">SE Asia Ecommerce Has Plateaued But Will Resume Growth In The Future</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>We will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.</p><h2 id=\"id_3773151236\">Growth Rates &amp; Valuations</h2><p>On my recent podcast, I noted that the market should not have priced Sea at $350/share based on 150%+ growth because that growth was unsustainable.</p><p>That is, in the same way it was improper for the market to price Sea at $350/share based on unsustainably high growth of 150%+, it&#39;s now highly likely that it&#39;s improper for the market to price Sea at nearly $35/share based on unsustainably low growth of 5%.</p><p>I would ask the market, &#34;Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth? Might the fastest interest rate hiking cycle ever have something to do with slowing growth? Might the China recession have something to do with slowing growth?&#34;</p><h3 id=\"id_1177283835\">SE Asia Ecommerce Has Plateaued But Will Resume Growth In The Future</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>I mean this stuff is not rocket science.</p><h3 id=\"id_3584070374\">Sea Experienced Unsustainably High Growth And Now Unsustainably Low Growth</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/56be6b320f3dbb16ecb786f13c5a3af3\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>The reality for Sea is that its long term growth rate will land somewhere in the middle, and, as such, its intrinsic value is somewhere in the middle of these two utterly insane extremes.</p><p>Amazon experienced the identical valuation and growth dynamics in the early 2000s.</p><h3 id=\"id_2031746004\">Amazon Experienced Unsustainably High Growth And Unsustainably Low Growth (Bottoming At 13% in 2001)</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5d6f19fd84c68bae89d66eff83fe5074\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>To assign data to the claim that growth will find itself somewhere in the middle, below, we can see that the growth of SE Asia&#39;s ecommerce market has plateaued. The growth dynamics presented below align virtually 1 to 1 with Sea&#39;s astronomical growth in 2020/2021 and rather depressed growth in 2022 and 2023.</p><h3 id=\"id_643515669\">SE Asia Ecommerce Sales Annually (Note The Deceleration &amp; Plateau)</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>The above data answers my previously posed question,</p><blockquote><p><em>Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth?</em></p></blockquote><p>More than anything, this is why Sea has experienced such rapidly slowing growth in recent quarters and specifically in Q2 2023.</p><p>Eventually, SE Asia&#39;s ecommerce market and Sea will accelerate revenue growth, and the current panic will look highly misguided, just as pricing the business as if it would grow at 150% annualized for 10 years was highly misguided.</p><h2 id=\"id_2482640280\">Reviewing Sea&#39;s Q2 2023 &amp; The Business Broadly</h2><p>In our review of Monday&#39;s Q2 2023 earnings, I shared the four principle frameworks via which I select businesses to own.</p><p>I would certainly encourage you to read that review of Monday via the link below:</p><ul style=\"\"><li><p>Understanding Monday.com (MNDY)</p></li></ul><p>And, indeed, we&#39;ve employed one of those frameworks in ultimately deciding to own Sea Ltd. Specifically, we used the following framework:</p><ul style=\"\"><li><p><strong><em>Quality cultures that breed innovation within the larger conglomerate: </em></strong><em>We&#39;ve often explored the Spawner framework (I&#39;m working on a different name), which entails a company&#39;s ability to launch, or spawn, new successful business/product after new successful business/product, creating a nucleus of explosive, compounding sales growth. This is the idea that a business creates a culture in which its employees create new products successfully. With multiple products growing rapidly simultaneously, the business overall grows more rapidly and more durably. Some of my favorite examples that fit within this framework are Axon, Monday, Adyen , Sea, Tesla, Amazon, and MercadoLibre. Indeed, many of our businesses possess this incredible cultural structure, and that is why we&#39;ve chosen to own them.</em></p></li></ul><p>Sea began as a gaming studio/platform, i.e., Garena, which has produced the globally popular game Free Fire, from which Sea principally generates its ~$1B in cash flows annually.</p><h3 id=\"id_2202822765\">Sea&#39;s Garena Platform Key Performance Metrics</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/667df5a1ae563e13fe9b380297b5dafa\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"307\"/><span>Sea Q2 2023 Investor Presentation</span></p><p>After successfully building this gaming studio, Sea launched Shopee in 2015.</p><p>Notably, a major ecommerce platform already existed at the time: Lazada, a former Rocket Internet startup, into which Alibaba (BABA) has poured billions of dollars.</p><p>Despite Lazada having a head start, Shopee quickly surpassed Lazada and became the undisputed, most dominant ecommerce platform in SE Asia.</p><h3 id=\"id_3416636853\">SE Asia Ecommerce Market Share Data 2022</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/234387265478d7a3eacaadad43f102d3\" alt=\"Momentum.Asia\" title=\"Momentum.Asia\" tg-width=\"1280\" tg-height=\"720\"/><span>Momentum.Asia</span></p><p>Notably, Sea is the only profitable ecommerce platform in the region, which I believe demonstrates the differentiated nature of the business and the execution thereof.</p><blockquote><p><em>There are many different service points we can touch and also continue to improve. And there are also many cost points that we will continue to improve upon and these are the key competencies, I think that brought us here to the current position of strong market leadership with the lowest cost to serve a platform that allows us to be both market leader, </em><strong><em>but also profitable and one and only in Southeast Asia so far.</em></strong><em> I think we will not give up that competitive moat and we&#39;ll continue to strengthen that.</em></p><p>Yanjun Wang, Chief Corporate Officer, Q2 2023 Sea Earnings Call</p></blockquote><p>Notably, Shopee grew ecommerce orders <em>and </em>grew sales at healthy rates in the quarter.</p><h3 id=\"id_4141599611\">Shopee Grew At 28% Year Over Year, Which Is Exceptional</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b9afc577874ff61d7708c2fbc860f84b\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"317\"/><span>Sea Q2 2023 Investor Presentation</span></p><blockquote><p><em>Gross orders increased by more than 10% quarter-on-quarter as a result of growth in both active buyers and buyer purchase frequency.</em></p><p>[I do think it could be argued that Brazil contributed to this gross order growth, and Shopee&#39;s GMV/gross orders are something to monitor in the years ahead, but the current pricing of the business suggests ecommerce growth will halt in perpetuity, but it is illogical to believe the Shopee would suddenly stop growing when we consider the WMT/HD/COST/WMT analogy and the fact that Shopee has dominated for nearly a decade. It&#39;s the strongest it&#39;s ever been and its domination will likely persist.]</p></blockquote><p>Following the creation of Shopee, in order to enable SE Asian folks to pay via the internet, Sea launched Sea Money (formerly Airpay), which has grown into one of the largest FinTech platforms on earth, with ~60M users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8867ef7a958c7aed75ae501d59bcbd0b\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"319\"/><span>Sea Q2 2023 Investor Presentation</span></p><p>Notably, all of these business segments are now fundamentally profitable.</p><h3 id=\"id_3666375119\">EC = Ecommerce; DE = Garena; DFS = Sea Money</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7d8b6255b1397c2f661bb8f8c6c0586a\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"460\"/><span>Sea Q2 2023 Investor Presentation</span></p><p>Even accounting for interest, taxes, and depreciation and amortization, Sea generated robust free cash flow in Q2 2023.</p><p>Notably, <strong><em>Sea has done all of this in 10 years.</em></strong></p><p>In only 10 years, Sea has built three exceptionally dominant, platforms that nearly 700M to 1B total people use!</p><p>And these platforms serve these 700M to 1B people <em>profitably!</em></p><p>I mean how much logic and intuition does it require to foresee that Sea is just getting started?</p><p>I do not believe it requires much.</p><p>And I do believe Sea is just getting started, atop robust free cash flow, $7.7B in cash &amp; equivalents; $3.3B in convertible debt, and a very long runway for growth still ahead.</p><h2 id=\"id_1241524940\">Concluding Thoughts: The Skies Will Open Up And The Seas Will Part In Due Course</h2><p>I would invite you to review the &#34;10 Sea Commandments&#34; that I shared at the introduction of this note.</p><p>In my estimation, the investment is extremely easy at these levels.</p><p>I don&#39;t believe the price action is mysterious. We&#39;re experiencing identically what investors experienced in buying each of Sea&#39;s predecessors: Walmart, Amazon, and Lowe&#39;s when these businesses were similarly about 10-15 years old.</p><p>To conclude, Sea currently faces these economic headwinds. Notably, these headwinds will disappear in the years ahead:</p><ol start=\"1\" style=\"\"><li><p><em>The stoppage or cessation of growth for the SE Asian ecommerce market. It grew astronomically in 2020 and 2021 and even into 2022 as SE Asia took longer to remove lockdowns. It&#39;s now basically not growing, and Sea is not growing along with it.</em></p></li><li><p><em>Difficult year over year comps: It&#39;s very hard to grow at 100%+ annualized for multiple consecutive years, just like it&#39;s hard to sprint a 40 yard dash repeatedly. Sea will work through these difficult comps and resume elevated growth eventually.</em></p></li><li><p><em>The fastest rate hiking cycle in American history. The dollar, in many ways, governs growth of the global economic system by way of the dollar &#34;exporting&#34; U.S. monetary policy. The incredible strength of the dollar, created by the fastest interest rate hiking cycle in American history, has served to slow economic growth globally.</em></p></li><li><p><em>China is in a recession and has been. This could make economic conditions in Asia worse than they already are.</em></p></li></ol><p>Eventually, each of these negatives will dissipate, and the skies will open for Sea and the growth of its business.</p><p>I believe it could be an easy, profitable 10 bagger as of today over the next 10 years.</p><p>Thank you for reading, and have a great day.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: Easy To Sea</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited: Easy To Sea\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-09-20 16:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4635848-easy-to-sea><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has...</p>\n\n<a href=\"https://seekingalpha.com/article/4635848-easy-to-sea\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4502":"阿里概念","BK4155":"大卖场与超市","BK4505":"高瓴资本持仓","BK4085":"互动家庭娱乐","BK4581":"高盛持仓","BK4504":"桥水持仓","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","SG9999002620.SGD":"LionGlobal South East Asia SGD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","BK4539":"次新股","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0823411888.USD":"法巴消费创新基金 Cap","BK4532":"文艺复兴科技持仓","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","SE":"Sea Ltd","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4524":"宅经济概念","BK4527":"明星科技股","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","BK4526":"热门中概股","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","BK4083":"家庭装潢零售"},"source_url":"https://seekingalpha.com/article/4635848-easy-to-sea","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2368901380","content_text":"Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has demonstrated an especial penchant for doing so to commerce platforms.It did so to Walmart in 1973-74. It did so to Lowe's in the 1980s. It did so to Amazon in the 2000s. It did so to MercadoLibre in 2008-2009.And, today, once again, the market has curiously traded down one of the best commerce platforms on earth in something akin to a fevered, depressive panic.Today, I will quantitatively demonstrate for you the irrationality behind this price action, and, in short, I believe Sea could prove to be a 10-bagger in the decade ahead.It's Easy: Concisely Articulating The Sea ThesisShopee remains the #1 ecommerce platform in SE Asia. It is the only profitable one. Lazada is the #2, and this is a Rocket Internet Startup that existed before Shopee but has since been surpassed by Shopee by a very long shot. Shopee is indisputably the best ecommerce platform in the region, and, again, it's the only profitable platform.In the U.S., Walmart, Amazon, Target, Lowe's, Home Depot, Dollar General, grocery stores, and department stores have all co-existed and created trillions in equity value over the last 75 years.In Latin America, MercadoLibre has co-existed with a host of rivals, including Amazon quite formidably in Latin America, and it has still done very well profitably. Notably, MercadoLibre only has 35% market share of total ecommerce GMV in Latin America, while Sea has 50% in SE Asia; yet there's no fevered panic over MercadoLibre's market share.Sea has $7.7B in cash & equivalents; $3.3B in convertible debt. This is a massive amount of resources with which it can further dominate the aforementioned unprofitable and historically stagnant/inferior competition. Sea also generates robust free cash flow quarterly now alongside its giant liquidity position on its balance sheet.Sea owns Garena, which is now returning to growth. This is like Sea's AWS (AMZN) in a sense, giving it an advantage over rivals. Garena could also experience sales growth in the future, especially in light of Free Fire being unbanned in India recently. Garena produces about $1B in annualized cash flows for the conglomerate.Sea has a FinTech business (Sea Money) with about 60M users on the platform. This alone could be worth $20B to $30B, and Sea currently trades at ~$18B in enterprise value (preposterous in my opinion). This is a rapidly growing, free cash flow generative business that provides core financial infrastructure to SE Asia's digital economy alongside a couple other rivals, including GoPay (GOTO) and OVO (GRAB).SE Asia has a very, very long runway for growth demographically. The region is still in the very early innings of economic growth and development.Sea has demonstrated an ability to successfully and organically (meaning without acquiring) build new products and scale them rapidly. While it's built three incredibly successful franchises over the last decade or so, i.e., Garena (500M+ users and highly profitable), Shopee (#1 ecom platform in SE Asia and only profitable one), and Sea Money (~60M users and profitable), it's highly likely that it creates new and compelling products in the future as well, adding to the 20-30% annualized growth I believe the conglomerate will achieve in the decade ahead, once we emerge from the current rate hiking cycle and Asian economic woes broadly, both of which have served to, on some level, halt the growth of SE Asia's tech sector momentarily.Lastly, SE Asia's demographics are very favorable for sustained, elevated growth for Sea in the decades ahead (depicted below).I believe a 10 bagger over the next 10 years will be seen as base case for the business.SE Asia Ecommerce Has Plateaued But Will Resume Growth In The FutureStatistaWe will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.SE Asia Has A Long Runway For Growth And Development Still AheadI understand that the data below is from 2017, but it's worth noting the total digital consumer TAM, as well as the projections for ecommerce growth, validation of which we can see in the ecommerce GMV chart shared just above.Sea Ltd.'s F-1Over the last 5-7 years, Shopee's market share has grown within a rapidly growing ecommerce GMV TAM.In a very worst case scenario, Shopee's market share may shrink, but, in light of the growth of SE Asia's ecommerce TAM, Shopee could very well continue to grow at elevated rates for decades to come.Understanding The Share Price Dynamics For Sea Ltd.I would say there's a number of approaches I could take to illustrate why Sea Ltd. (NYSE:SE) went from trading at $350/share to nearly $35/share as of today.The same number of approaches could be taken in understanding why its retail predecessors, e.g., Walmart (WMT), Lowe's (LOW), or Amazon (AMZN), likewise experienced fairly stunning share price declines early in their lifecycles.Today, I will share with you data that, in my estimation, definitively delineates why Sea and many of the former market darlings have experienced such breathtaking declines over the last 18 months or so.Let's start with the underlying market mechanisms that are not idiosyncratic to Sea. These mechanisms that we will review have created the declines we've seen from businesses like Tesla (TSLA), Affirm (AFRM), Meta (META) and Airbnb (ABNB) over the last 12 months.I've shared the following chart often, but it certainly bears re-sharing and repeating:The Prices Of Equities Overshoot To The Upside And Overshoot To The DownsideTruemind CapitalThis chart is so ubiquitously shared and repeated on the internet for a reason:It represents genuine reality of what you will experience in owning a given business/stock.And we can see these precise dynamics playing out for Sea, as well as Adyen (OTCPK:ADYEY) and many, many other businesses in the market today.Roughly Depicting The True Intrinsic Value Of Sea Based On My Estimation Of The Growth Of Free Cash Flow Per ShareYChartsRoughly Depicting The True Intrinsic Value Of Adyen Based On My Estimation Of The Growth Of Free Cash Flow Per ShareYChartsThe charts align almost perfectly identically with the \"ubiquitously shared teaching chart,\" and this is no coincidence. This is perfectly how the market operates and prices equities.\"As it was in the beginning, is now, and ever shall be, world without end. Amen.\"The market's pricing of equities overshoots to the upside (too much exuberance) and overshoots to the downside (too much despair), and it has done this since the dawn of asset markets. The Great Warren Buffett has the market's behavior in this respect as the behavior of a \"drunken psycho,\" and we can certainly see and, for those that own Sea and Adyen, feel why.Interest Rates & Growth RatesTo delve deeper into the underlying mechanisms driving the, as Mr. Buffett would call them, \"drunken, psychotic\" pricing dynamics of the market, we should consider how interest rates and individual company growth rates have impacted the valuations of Sea and Adyen.When interest rates rise (i.e., the cost of credit in the economy rise), valuations decline, all else being equal (we will consider growth rates and their impact on valuations in a moment).When interest rates decline (i.e., the cost of credit in the economy declines), valuations rise, all else being equal.Below, we can see how a dramatic decline in interest rates created something akin to a \"zero gravity environment\" for the valuation of Sea (I will include Adyen as well to provide further context for this exercise).Sea's Valuation And The 10 Year Treasury RateYChartsAs interest rates have risen at the fastest rate in the history of America, the precise inverse has occurred:Instead of a zero gravity environment for Sea, it has experienced 2x gravity for its valuation and correspondingly its stock price.Visual CapitalistIf we couple this dynamic with the natural tendency of humans in crowds to panic and flee (sell), thereby creating market crashes, we can better understand why Sea's share price has been in free fall, despite reporting a fantastic Q2, in which it generated very healthy free cash flow and GAAP net income, grew sales, remained the #1 and only profitable ecommerce platform in SE Asia, grew its profitable FinTech business, and stabilized/grew its gaming business' users.We will explore Sea's quarter in following sections, but it certainly is worth noting in this valuation exercise that Sea reported an objectively fantastic Q2 2023 earnings. It could not have done better in my eyes.Turning to Adyen, we can see precisely the same valuation dynamics, precipitated by higher interest rates, playing out.Adyen's Valuation And The 10 Year Treasury RateYChartsIn addition to the \"next best alternative\" math associated with higher rates and valuations, meaning that with a higher risk free rate, I require more yield on my equity investment, which suggests I need a lower valuation to buy, higher interest rates slow economic and individual business growth.Because we've experienced the fastest rate hiking cycle in American history and because SE Asia reopened recently, after being locked down for years, ecommerce growth in SE Asia has been tepid relative to the last few years.SE Asia Ecommerce Has Plateaued But Will Resume Growth In The FutureStatistaWe will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.Growth Rates & ValuationsOn my recent podcast, I noted that the market should not have priced Sea at $350/share based on 150%+ growth because that growth was unsustainable.That is, in the same way it was improper for the market to price Sea at $350/share based on unsustainably high growth of 150%+, it's now highly likely that it's improper for the market to price Sea at nearly $35/share based on unsustainably low growth of 5%.I would ask the market, \"Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth? Might the fastest interest rate hiking cycle ever have something to do with slowing growth? Might the China recession have something to do with slowing growth?\"SE Asia Ecommerce Has Plateaued But Will Resume Growth In The FutureStatistaI mean this stuff is not rocket science.Sea Experienced Unsustainably High Growth And Now Unsustainably Low GrowthYChartsThe reality for Sea is that its long term growth rate will land somewhere in the middle, and, as such, its intrinsic value is somewhere in the middle of these two utterly insane extremes.Amazon experienced the identical valuation and growth dynamics in the early 2000s.Amazon Experienced Unsustainably High Growth And Unsustainably Low Growth (Bottoming At 13% in 2001)YChartsTo assign data to the claim that growth will find itself somewhere in the middle, below, we can see that the growth of SE Asia's ecommerce market has plateaued. The growth dynamics presented below align virtually 1 to 1 with Sea's astronomical growth in 2020/2021 and rather depressed growth in 2022 and 2023.SE Asia Ecommerce Sales Annually (Note The Deceleration & Plateau)StatistaThe above data answers my previously posed question,Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth?More than anything, this is why Sea has experienced such rapidly slowing growth in recent quarters and specifically in Q2 2023.Eventually, SE Asia's ecommerce market and Sea will accelerate revenue growth, and the current panic will look highly misguided, just as pricing the business as if it would grow at 150% annualized for 10 years was highly misguided.Reviewing Sea's Q2 2023 & The Business BroadlyIn our review of Monday's Q2 2023 earnings, I shared the four principle frameworks via which I select businesses to own.I would certainly encourage you to read that review of Monday via the link below:Understanding Monday.com (MNDY)And, indeed, we've employed one of those frameworks in ultimately deciding to own Sea Ltd. Specifically, we used the following framework:Quality cultures that breed innovation within the larger conglomerate: We've often explored the Spawner framework (I'm working on a different name), which entails a company's ability to launch, or spawn, new successful business/product after new successful business/product, creating a nucleus of explosive, compounding sales growth. This is the idea that a business creates a culture in which its employees create new products successfully. With multiple products growing rapidly simultaneously, the business overall grows more rapidly and more durably. Some of my favorite examples that fit within this framework are Axon, Monday, Adyen , Sea, Tesla, Amazon, and MercadoLibre. Indeed, many of our businesses possess this incredible cultural structure, and that is why we've chosen to own them.Sea began as a gaming studio/platform, i.e., Garena, which has produced the globally popular game Free Fire, from which Sea principally generates its ~$1B in cash flows annually.Sea's Garena Platform Key Performance MetricsSea Q2 2023 Investor PresentationAfter successfully building this gaming studio, Sea launched Shopee in 2015.Notably, a major ecommerce platform already existed at the time: Lazada, a former Rocket Internet startup, into which Alibaba (BABA) has poured billions of dollars.Despite Lazada having a head start, Shopee quickly surpassed Lazada and became the undisputed, most dominant ecommerce platform in SE Asia.SE Asia Ecommerce Market Share Data 2022Momentum.AsiaNotably, Sea is the only profitable ecommerce platform in the region, which I believe demonstrates the differentiated nature of the business and the execution thereof.There are many different service points we can touch and also continue to improve. And there are also many cost points that we will continue to improve upon and these are the key competencies, I think that brought us here to the current position of strong market leadership with the lowest cost to serve a platform that allows us to be both market leader, but also profitable and one and only in Southeast Asia so far. I think we will not give up that competitive moat and we'll continue to strengthen that.Yanjun Wang, Chief Corporate Officer, Q2 2023 Sea Earnings CallNotably, Shopee grew ecommerce orders and grew sales at healthy rates in the quarter.Shopee Grew At 28% Year Over Year, Which Is ExceptionalSea Q2 2023 Investor PresentationGross orders increased by more than 10% quarter-on-quarter as a result of growth in both active buyers and buyer purchase frequency.[I do think it could be argued that Brazil contributed to this gross order growth, and Shopee's GMV/gross orders are something to monitor in the years ahead, but the current pricing of the business suggests ecommerce growth will halt in perpetuity, but it is illogical to believe the Shopee would suddenly stop growing when we consider the WMT/HD/COST/WMT analogy and the fact that Shopee has dominated for nearly a decade. It's the strongest it's ever been and its domination will likely persist.]Following the creation of Shopee, in order to enable SE Asian folks to pay via the internet, Sea launched Sea Money (formerly Airpay), which has grown into one of the largest FinTech platforms on earth, with ~60M users.Sea Q2 2023 Investor PresentationNotably, all of these business segments are now fundamentally profitable.EC = Ecommerce; DE = Garena; DFS = Sea MoneySea Q2 2023 Investor PresentationEven accounting for interest, taxes, and depreciation and amortization, Sea generated robust free cash flow in Q2 2023.Notably, Sea has done all of this in 10 years.In only 10 years, Sea has built three exceptionally dominant, platforms that nearly 700M to 1B total people use!And these platforms serve these 700M to 1B people profitably!I mean how much logic and intuition does it require to foresee that Sea is just getting started?I do not believe it requires much.And I do believe Sea is just getting started, atop robust free cash flow, $7.7B in cash & equivalents; $3.3B in convertible debt, and a very long runway for growth still ahead.Concluding Thoughts: The Skies Will Open Up And The Seas Will Part In Due CourseI would invite you to review the \"10 Sea Commandments\" that I shared at the introduction of this note.In my estimation, the investment is extremely easy at these levels.I don't believe the price action is mysterious. We're experiencing identically what investors experienced in buying each of Sea's predecessors: Walmart, Amazon, and Lowe's when these businesses were similarly about 10-15 years old.To conclude, Sea currently faces these economic headwinds. Notably, these headwinds will disappear in the years ahead:The stoppage or cessation of growth for the SE Asian ecommerce market. It grew astronomically in 2020 and 2021 and even into 2022 as SE Asia took longer to remove lockdowns. It's now basically not growing, and Sea is not growing along with it.Difficult year over year comps: It's very hard to grow at 100%+ annualized for multiple consecutive years, just like it's hard to sprint a 40 yard dash repeatedly. Sea will work through these difficult comps and resume elevated growth eventually.The fastest rate hiking cycle in American history. The dollar, in many ways, governs growth of the global economic system by way of the dollar \"exporting\" U.S. monetary policy. The incredible strength of the dollar, created by the fastest interest rate hiking cycle in American history, has served to slow economic growth globally.China is in a recession and has been. This could make economic conditions in Asia worse than they already are.Eventually, each of these negatives will dissipate, and the skies will open for Sea and the growth of its business.I believe it could be an easy, profitable 10 bagger as of today over the next 10 years.Thank you for reading, and have a great day.","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954171315,"gmtCreate":1676168093838,"gmtModify":1676170090735,"author":{"id":"4122641287466142","authorId":"4122641287466142","name":"LUKKL","avatar":"https://community-static.tradeup.com/news/22de0bedeb554b4c4f64cbf85b8b8a2b","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4122641287466142","authorIdStr":"4122641287466142"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954171315","repostId":"2310987489","repostType":2,"repost":{"id":"2310987489","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1676161583,"share":"https://ttm.financial/m/news/2310987489?lang=&edition=fundamental","pubTime":"2023-02-12 08:26","market":"us","language":"en","title":"These 20 AI Stocks Are Expected By Analysts to Rise up to 85% Over the Next Year","url":"https://stock-news.laohu8.com/highlight/detail?id=2310987489","media":"Dow Jones","summary":"Artificial intelligence is the hottest area of the stock market right now. A screen of five ETFs poi","content":"<html><head></head><body><ul><li>Artificial intelligence is the hottest area of the stock market right now. A screen of five ETFs points to a list of highly favored companies</li></ul><p>There are always fads in the stock market, but now we are in the midst of what could turn out to be a revolutionary trend that will last much longer than any fad — artificial intelligence.</p><p>In the Need to Know column on Feb. 9, Edward Stanley, who leads a team of strategists at Morgan Stanley, was quoted calling AI the real deal: “Generative AI, now popularized by ChatGPT, is showing all the usual hallmarks of hype,” he wrote. But then he added that “something suggests the AI hype is worth considering seriously,” calling it “the fastest platform to a million users and fastest to 100 million site views.”</p><p>Stanley called generative AI a “serious contender” for “tech diffusion with real market impact potential.”</p><h3>An AI stock screen</h3><p>When screening companies by business focus, it helps to have an industry label, such as “semiconductors.” Such isn’t the case for AI. One easy way to jump on the trend bandwagon would be to purchase shares of Microsoft Corp. MSFT, which provided $1 billion in funding for OpenAI when it began to develop ChatGPT, and is now ponying up billions more. Microsoft has been demonstrating how it will integrate ChatGPT with its Bing search engine.</p><p>For a new screen of AI-related stocks, we began by looking at the holdings of five exchange-traded funds with AI in their names:</p><ul><li><a href=\"https://laohu8.com/S/BOTZ\">The Global X Robotics &amp; Artificial Intelligence ETF</a> holds 42 stocks. It tracks an index of companies listed in developed markets. The companies are expected to benefit from the increased utilization of robotics and artificial intelligence. The fund is weighted by market capitalization; its largest holding is Nvidia Corp. NVDA, which makes up 9.6% of its portfolio. It is the largest ETF listed here with $1.6 billion in assets under management. It was established September 2016.</li><li><a href=\"https://laohu8.com/S/IRBO\">The iShares Robotics and Artificial Intelligence Multisector ETF</a> holds 119 stocks that are equal-weighted, as it tracks a global index of companies that derive at east 50% of revenue from robotics or AI, or have significant exposure to related industries. This ETF has $269 million in assets; it was launched in June 2018.</li><li>The $205 million <a href=\"https://laohu8.com/S/ROBT\">First Trust Nasdaq Artificial Intelligence &amp; Robotics ETF</a> has 111 stocks in its portfolio, with a modified weighting based on how directly they are involved in AI or Robotics. It was established in February 2018.</li><li>The <a href=\"https://laohu8.com/S/THNQ\">Robo Global Artificial Intelligence ETF</a> has $24 million in assets and was established in May 2020. This fund holds 69 stocks and isn’t concentrated. It uses a scoring system to weight its holdings by percentage of revenue derived from AI, with holdings also subject to minimum market capitalization and liquidity requirements.</li><li>The newest and smallest ETF on this list is the <a href=\"https://laohu8.com/S/WTAI\">WisdomTree Artificial Intelligence and Innovation Fund</a>, which was established on Dec. 7 and has $1.8 million in assets and holds 76 stocks in an equal-weighted portfolio. According to FactSet, stocks are handpicked and selected companies “generate at least 50% of their revenue from AI and innovation activities, including those related to software, semiconductors, hardware technology, machine learning and innovative products.”</li></ul><p>Taking all the stocks held by the ETFs together, we narrowed the list to 96 stocks held by at least two of the funds. We then narrowed further to 88 companies covered by at least five analysts polled by FactSet.</p><p>Among those 88 companies, 30 are rated a “buy” by at least 75% of analysts covering the stocks. Sometimes price targets can get ahead of analysts’ targets, especially in such a hot area of the stock market.</p><p>So we have narrowed the list further to the 20 stocks for which analysts see the most upside potential over the next 12 months, based on consensus price targets. Prices and targets are in local currencies, where the stocks are listed.</p><p><img src=\"https://static.tigerbbs.com/7891c3b4756b3611beab2570e116fea1\" tg-width=\"932\" tg-height=\"730\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/ac1c597527a80030d01132244767f673\" tg-width=\"934\" tg-height=\"737\" referrerpolicy=\"no-referrer\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These 20 AI Stocks Are Expected By Analysts to Rise up to 85% Over the Next Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese 20 AI Stocks Are Expected By Analysts to Rise up to 85% Over the Next Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-02-12 08:26</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Artificial intelligence is the hottest area of the stock market right now. A screen of five ETFs points to a list of highly favored companies</li></ul><p>There are always fads in the stock market, but now we are in the midst of what could turn out to be a revolutionary trend that will last much longer than any fad — artificial intelligence.</p><p>In the Need to Know column on Feb. 9, Edward Stanley, who leads a team of strategists at Morgan Stanley, was quoted calling AI the real deal: “Generative AI, now popularized by ChatGPT, is showing all the usual hallmarks of hype,” he wrote. But then he added that “something suggests the AI hype is worth considering seriously,” calling it “the fastest platform to a million users and fastest to 100 million site views.”</p><p>Stanley called generative AI a “serious contender” for “tech diffusion with real market impact potential.”</p><h3>An AI stock screen</h3><p>When screening companies by business focus, it helps to have an industry label, such as “semiconductors.” Such isn’t the case for AI. One easy way to jump on the trend bandwagon would be to purchase shares of Microsoft Corp. MSFT, which provided $1 billion in funding for OpenAI when it began to develop ChatGPT, and is now ponying up billions more. Microsoft has been demonstrating how it will integrate ChatGPT with its Bing search engine.</p><p>For a new screen of AI-related stocks, we began by looking at the holdings of five exchange-traded funds with AI in their names:</p><ul><li><a href=\"https://laohu8.com/S/BOTZ\">The Global X Robotics &amp; Artificial Intelligence ETF</a> holds 42 stocks. It tracks an index of companies listed in developed markets. The companies are expected to benefit from the increased utilization of robotics and artificial intelligence. The fund is weighted by market capitalization; its largest holding is Nvidia Corp. NVDA, which makes up 9.6% of its portfolio. It is the largest ETF listed here with $1.6 billion in assets under management. It was established September 2016.</li><li><a href=\"https://laohu8.com/S/IRBO\">The iShares Robotics and Artificial Intelligence Multisector ETF</a> holds 119 stocks that are equal-weighted, as it tracks a global index of companies that derive at east 50% of revenue from robotics or AI, or have significant exposure to related industries. This ETF has $269 million in assets; it was launched in June 2018.</li><li>The $205 million <a href=\"https://laohu8.com/S/ROBT\">First Trust Nasdaq Artificial Intelligence &amp; Robotics ETF</a> has 111 stocks in its portfolio, with a modified weighting based on how directly they are involved in AI or Robotics. It was established in February 2018.</li><li>The <a href=\"https://laohu8.com/S/THNQ\">Robo Global Artificial Intelligence ETF</a> has $24 million in assets and was established in May 2020. This fund holds 69 stocks and isn’t concentrated. It uses a scoring system to weight its holdings by percentage of revenue derived from AI, with holdings also subject to minimum market capitalization and liquidity requirements.</li><li>The newest and smallest ETF on this list is the <a href=\"https://laohu8.com/S/WTAI\">WisdomTree Artificial Intelligence and Innovation Fund</a>, which was established on Dec. 7 and has $1.8 million in assets and holds 76 stocks in an equal-weighted portfolio. According to FactSet, stocks are handpicked and selected companies “generate at least 50% of their revenue from AI and innovation activities, including those related to software, semiconductors, hardware technology, machine learning and innovative products.”</li></ul><p>Taking all the stocks held by the ETFs together, we narrowed the list to 96 stocks held by at least two of the funds. We then narrowed further to 88 companies covered by at least five analysts polled by FactSet.</p><p>Among those 88 companies, 30 are rated a “buy” by at least 75% of analysts covering the stocks. Sometimes price targets can get ahead of analysts’ targets, especially in such a hot area of the stock market.</p><p>So we have narrowed the list further to the 20 stocks for which analysts see the most upside potential over the next 12 months, based on consensus price targets. Prices and targets are in local currencies, where the stocks are listed.</p><p><img src=\"https://static.tigerbbs.com/7891c3b4756b3611beab2570e116fea1\" tg-width=\"932\" tg-height=\"730\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/ac1c597527a80030d01132244767f673\" tg-width=\"934\" tg-height=\"737\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","BK4502":"阿里概念","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","BK4573":"虚拟现实","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","BK1586":"云计算","BK4581":"高盛持仓","IRBO":"iShares Robotics and Artificial Intelligence Multisector ETF","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","LU0289739343.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (SGD) ACC","LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","BK4170":"电脑硬件、储存设备及电脑周边","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","BK4528":"SaaS概念","BOTZ":"Global X Robotics & Artificial Intelligence Thematic ETF","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4516":"特朗普概念","BK4023":"应用软件","BK1517":"云办公","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0444971666.USD":"天利全球科技基金","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0449515922.USD":"HSBC GIF GLOBAL EMERGING MARKETS EQUITY \"PC\" (USD)ACC","LU0056508442.USD":"贝莱德世界科技基金A2","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","BK4566":"资本集团","MSFT":"微软","LU0348788117.USD":"ALLIANZ EMERGING ASIA EQUITY \"A\" (USD) INC","BK4526":"热门中概股","BK4550":"红杉资本持仓","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","BK4141":"半导体产品","BK4503":"景林资产持仓","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2310987489","content_text":"Artificial intelligence is the hottest area of the stock market right now. A screen of five ETFs points to a list of highly favored companiesThere are always fads in the stock market, but now we are in the midst of what could turn out to be a revolutionary trend that will last much longer than any fad — artificial intelligence.In the Need to Know column on Feb. 9, Edward Stanley, who leads a team of strategists at Morgan Stanley, was quoted calling AI the real deal: “Generative AI, now popularized by ChatGPT, is showing all the usual hallmarks of hype,” he wrote. But then he added that “something suggests the AI hype is worth considering seriously,” calling it “the fastest platform to a million users and fastest to 100 million site views.”Stanley called generative AI a “serious contender” for “tech diffusion with real market impact potential.”An AI stock screenWhen screening companies by business focus, it helps to have an industry label, such as “semiconductors.” Such isn’t the case for AI. One easy way to jump on the trend bandwagon would be to purchase shares of Microsoft Corp. MSFT, which provided $1 billion in funding for OpenAI when it began to develop ChatGPT, and is now ponying up billions more. Microsoft has been demonstrating how it will integrate ChatGPT with its Bing search engine.For a new screen of AI-related stocks, we began by looking at the holdings of five exchange-traded funds with AI in their names:The Global X Robotics & Artificial Intelligence ETF holds 42 stocks. It tracks an index of companies listed in developed markets. The companies are expected to benefit from the increased utilization of robotics and artificial intelligence. The fund is weighted by market capitalization; its largest holding is Nvidia Corp. NVDA, which makes up 9.6% of its portfolio. It is the largest ETF listed here with $1.6 billion in assets under management. It was established September 2016.The iShares Robotics and Artificial Intelligence Multisector ETF holds 119 stocks that are equal-weighted, as it tracks a global index of companies that derive at east 50% of revenue from robotics or AI, or have significant exposure to related industries. This ETF has $269 million in assets; it was launched in June 2018.The $205 million First Trust Nasdaq Artificial Intelligence & Robotics ETF has 111 stocks in its portfolio, with a modified weighting based on how directly they are involved in AI or Robotics. It was established in February 2018.The Robo Global Artificial Intelligence ETF has $24 million in assets and was established in May 2020. This fund holds 69 stocks and isn’t concentrated. It uses a scoring system to weight its holdings by percentage of revenue derived from AI, with holdings also subject to minimum market capitalization and liquidity requirements.The newest and smallest ETF on this list is the WisdomTree Artificial Intelligence and Innovation Fund, which was established on Dec. 7 and has $1.8 million in assets and holds 76 stocks in an equal-weighted portfolio. According to FactSet, stocks are handpicked and selected companies “generate at least 50% of their revenue from AI and innovation activities, including those related to software, semiconductors, hardware technology, machine learning and innovative products.”Taking all the stocks held by the ETFs together, we narrowed the list to 96 stocks held by at least two of the funds. We then narrowed further to 88 companies covered by at least five analysts polled by FactSet.Among those 88 companies, 30 are rated a “buy” by at least 75% of analysts covering the stocks. Sometimes price targets can get ahead of analysts’ targets, especially in such a hot area of the stock market.So we have narrowed the list further to the 20 stocks for which analysts see the most upside potential over the next 12 months, based on consensus price targets. Prices and targets are in local currencies, where the stocks are listed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9933449132,"gmtCreate":1662339863626,"gmtModify":1676537039365,"author":{"id":"4122641287466142","authorId":"4122641287466142","name":"LUKKL","avatar":"https://community-static.tradeup.com/news/22de0bedeb554b4c4f64cbf85b8b8a2b","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4122641287466142","authorIdStr":"4122641287466142"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9933449132","repostId":"1114052367","repostType":2,"repost":{"id":"1114052367","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1662260377,"share":"https://ttm.financial/m/news/1114052367?lang=&edition=fundamental","pubTime":"2022-09-04 10:59","market":"us","language":"en","title":"Reminder: US Market Will be Closed for Labor Day on Monday, 5 September 2022 EDT","url":"https://stock-news.laohu8.com/highlight/detail?id=1114052367","media":"Tiger Newspress","summary":"Dear Valued Client,US Labor Day is around the corner. The U.S. market will be closed on Monday, 5 Se","content":"<html><head></head><body><p>Dear Valued Client,</p><p>US Labor Day is around the corner. The U.S. market will be closed on Monday, 5 September 2022 EDT. Please take note of the trading arrangements during the holiday period and make the necessary preparations in advance.</p><p><img src=\"https://static.tigerbbs.com/617f2a63df7eacd3e0db4c21d33077ea\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>Happy investing!</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: US Market Will be Closed for Labor Day on Monday, 5 September 2022 EDT</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: US Market Will be Closed for Labor Day on Monday, 5 September 2022 EDT\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-09-04 10:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Dear Valued Client,</p><p>US Labor Day is around the corner. The U.S. market will be closed on Monday, 5 September 2022 EDT. Please take note of the trading arrangements during the holiday period and make the necessary preparations in advance.</p><p><img src=\"https://static.tigerbbs.com/617f2a63df7eacd3e0db4c21d33077ea\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p><p>Happy investing!</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114052367","content_text":"Dear Valued Client,US Labor Day is around the corner. The U.S. market will be closed on Monday, 5 September 2022 EDT. Please take note of the trading arrangements during the holiday period and make the necessary preparations in advance.Happy investing!","news_type":1},"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}